The MIB gapped lower at the open on Wednesday, as we continue to see quite a bit of volatility. Quite frankly though, this is a market that has seen quite
The MIB gapped lower at the open on Wednesday, as we continue to see quite a bit of volatility. Quite frankly though, this is a market that has seen quite a bit of upward pressure lately, so I have no interest in shorting. At this point, I need to see some type of supportive candle, or perhaps a break out above the 22,300 level to start going long again, but I do anticipate that will be the move over the longer term. After all, the gap below the 22,000 level should offer quite a bit of support.
MIB Forecast November 19, 2015, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
